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Affordable Housing Press Releases

The Michaels Organization Acquires 41 Affordable Properties From Vitus

The Michaels Organization, the nation’s largest, privately held owner of affordable housing, announced today that it has acquired 41 apartment communities from affordable housing developer Vitus. The deal increases Michaels’ affordable housing portfolio by more than 1,500 units and expands its…

Vine City Welcomes “The Legacy at Vine City”, a Senior Housing Community in the Heart of Atlanta

WHAT: Press Conference and Groundbreaking CeremonyWHEN: Friday, April 27, 2018 at 10:30 AMWHERE: 561 Spencer St., NW | Atlanta, GA 30314PROGRAM PARTICIPANTS:Mayor Keshia Lance Bottoms, City of AtlantaAlan Ferguson, Sr., SVP, Community Development, Invest AtlantaCouncilman Ivory Young, City of Atlanta,…

The Michaels Organization Educational Foundation Announces Resident Scholarship Opportunities

The Michaels Organization Educational Foundation Announces Resident Scholarship Opportunities

The Michaels Organization Educational Foundation, the non-profit affiliate of The Michaels Organization, is now accepting applications for its college scholarship program for the 2018-2019 academic year. The scholarships are available to residents of  affordable and military housing communities owned or…

Centerville Neighborhood Celebrates Grand Opening of New Affordable Apartment Community

Centerville Neighborhood Celebrates Grand Opening of New Affordable Apartment Community

​​​​​​With the snip of a red ribbon, the City of Camden today celebrated the latest milestone in the revitalization of the important and historic neighborhood of Centerville, at a grand opening ceremony for The Branches at Centerville. The new development brings…

Dover Celebrates Grand Reopening of Whatcoat Apartments After Complete Modernization

Dover Celebrates Grand Reopening of Whatcoat Apartments After Complete Modernization

​​​​City, state, and federal officials today joined The Michaels Organization, along with its non-profit development partner, Whatcoat Community Development, LLC, at a ceremonial ribbon-cutting for The Preserve at Whatcoat. The $17.5 million gut rehabilitation of  the formerly named Whatcoat Apartments included…

New Luxury Apartments Coming to Camden Waterfront

New Luxury Apartments Coming to Camden Waterfront

CP Residential announced today that it has closed on a $48 million development deal that will bring 156 new rental apartment homes to the Camden waterfront in an environmentally conscious, amenity-rich mid-rise building.  The development is among the first market-rate…

XRBIA and Crystal Group Announce Game-Changing 6000-unit Affordable Housing Project in Mumbai City Centre

XRBIA and Crystal Group Announce Game-Changing 6000-unit Affordable Housing Project in Mumbai City Centre

India’s leader in affordable housing, ‘XRBIA’ along with leading Mumbai developer ‘Crystal Group’ has announced a 2.5million sq.ft. city-centre project with over 6000 affordable houses in Chembur, Mumbai. The project will see affordability enter the Mumbai real estate market, with…

‘XRBIA’ leading Indian affordable housing giant launching in UK to target nationwide housing crisis

‘XRBIA’ leading Indian affordable housing giant launching in UK to target nationwide housing crisis

XRBIA, one of the pioneering brands in the Indian affordable housing sector, is to launch in the UK in a bid to help tackle the extreme housing crisis in Europe. Founded in 2012, XRBIA’s first project consisted of 3,500 houses…

Xrbia’s Valuation Climbs Following Strong Q4 Performance

Xrbia’s Valuation Climbs Following Strong Q4 Performance

India's affordable housing leader, XRBIA, has released an investor update that confirms extremely strong performance in Q4 2017 and promising growth prospects for the new financial year. In the last quarter, XRBIA achieved a sales rate of 3,670 units, equivalent…

Covenant Presbyterian Invests in Affordable Housing

At a time when Charlotte's need for affordable housing is so great and the funding to build it is so scarce, a new model to finance its development could be the solution. Local congregation, Covenant Presbyterian Church ("Covenant"), has made…

Flipping Gentrification: Nonprofit Developer Breaks Ground for 1st Affordable Condos in a Decade

Daniel LeBlanc, Somerville Community Corporation CEO, and  Somerville Mayor Joseph Curtatone were joined today by Lionel Romain of the Community Economic Development Assistance Corporation and Dan May, vice president, East Boston Savings Bank at a Groundbreaking Ceremony for new construction…

Peabody Properties’ Charlesview Residences named Crime Watch Group of the Year

Peabody Properties’ Charlesview Residences named Crime Watch Group of the Year

Charlesview Residences in Brighton, a property managed by full-service real estate and property management firm Peabody Properties (http://www.peabodyproperties.com), was recognized as the top Crime Watch Group of the Year during the recent National Night Out, an annual community-building campaign that…

South Shore Habitat for Humanity Set to Build Two Projects in Duxbury

South Shore Habitat for Humanity Set to Build Two Projects in Duxbury

South Shore Habitat for Humanity (http://sshabitat.org), has announced two new projects planned for Duxbury. The first project will begin in October on a single family home on Lake Shore Drive. The second project will consist of a six unit development…

Community Preservation Partners Completes Residential Rehabilitations in San Jose

A year after closing two affordable housing deals totaling more than $87 million to protect affordability in the center of Silicon Valley, Irvine-based Community Preservation Partners (CPP) is pleased to announce that its extensive rehabilitations of the 144-unit Monte Vista…

DRI Fund (“DRI”) Announces Success of Loan Origination Program Focused on Providing Financing to Underserved Communities

DRI is certified by the US Department of Treasury as a Community Development Financial Institution ("CDFI"). To earn CDFI certification, DRI Fund provides direct financing to those most in need through its affordable housing initiatives in low and moderate income…

“A Disgraceful Prejudice,” Minister Says About Allegedly Biased Reporting

"Manufactured homes once were called mobile homes or trailers, but in many cases they've become more varied in appearance in recent decades, and it's true they provide a more affordable form of housing for some people in a time when…

Minnesota Homeownership Center Secures More Than $1mm to Support Local Housing Counseling in MN

The Minnesota Homeownership Center was awarded $730K in grants from the United States Department of Housing and Urban Development (HUD). This funding supports housing counseling services at the Center's 22 sub-grantees across the state. Each agency will receive between $9,000…

City Officials Join Residents to Celebrate Grand Opening of City Gardens

City Officials Join Residents to Celebrate Grand Opening of City Gardens

Brinshore-Michaels, a private-sector development partner of the Chicago Housing Authority, today hosted an official grand opening ceremony for City Gardens, a new mixed-income rental community with abundant green features located on the former site of the Maplewood Court public housing complex…

Jersey City Celebrates Grand Re-Opening of Catherine Todd Senior Living Center

Jersey City Celebrates Grand Re-Opening of  Catherine Todd Senior Living Center

​​​​​Jersey City officials, including Mayor Steven Fulop, joined executives of the Michaels Development Company (MDC) and the Jersey City Housing Authority, along with residents and other honored guests to celebrate the grand reopening of Catherine Todd Senior Living Center. Once…

Elizabeth Merzigan of Peabody Properties Presents at National Better Buildings Summit

Elizabeth Merzigan of Peabody Properties Presents at National Better Buildings Summit

Full service real estate and property management firm Peabody Properties, Inc. (http://peabodyproperties.com) announced today that Elizabeth Merzigian, Facilities Manager – Sustainability Initiatives for PPI, recently spoke at the Better Buildings Summit, held May 15 through May 17 in Washington, D.C.The…

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